General Motors 2012 Annual Report Download - page 10

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General Motors Company 2012 ANNUAL REPORT 7
The Cadillac ELR marks a pivotal moment in the
brand’s history – a sleek luxury coupe that features
the first application of Extended Range Electric Vehicle
technology by a full-line luxury automotive brand.
•Export sales from China reached 76,000 units
in 2012 and are expected to reach 100,000 units
in 2013.
•We now have more than 4,200 dealerships in
China and are expanding in the country’s growing
central and western cities.
Growing Cadillac sales in China is a priority. With a
refreshed version of the top-selling Cadillac SRX
crossover and local production of the Cadillac XTS
sedan, which began in early 2013, along with future
products, we will build critical mass. Our goal is to triple
sales to 100,000 units within two years.
In the United States, we sold 2.6 million vehicles, up
4 percent compared with 2011, although market share
declined 1.6 points to 17.5 percent. The share decline
is due in large part to the recovery of the Japanese
automakers after the Fukushima earthquake and
tsunami, and the relative age of our product portfolio.
Against this backdrop, however, we created significant
value for both GM and our customers.
•Thanks to continuous improvement in our product
offerings, GM’s sales incentives, which used to be
the highest in the industry, are now competitive
and consistently about the industry average
as a percentage of average transaction prices,
according to J.D. Power PIN data.
•GM now commands the highest, or among
the highest, prices in key segments, including
small, mid-size and compact cars, compact
and medium crossovers and large SUVs, also
according to J.D. Power.
•The combination of more desirable vehicles,
disciplined incentives and our balanced approach
to fleet sales has helped drive significant increases
in the resale value of our U.S. products.
The net result is that our EBIT-adjusted margins in
North America have averaged 7.4 percent over the last
three calendar years, despite having a relatively older
product line-up due to depressed capital spending in
2008 and 2009.